Asked by Richard Cutshaw on May 28, 2024
Verified
Reasons for new business failure include all of the following EXCEPT:
A) lack of marketing control.
B) lack of experience.
C) lack of strategy and strategic leadership.
D) lack of expertise.
E) lack of commitment.
Strategic Leadership
Strategic leadership enthuses people to continuously change, refine and improve strategies and their implementation.
Marketing Control
The methods and processes used by organizations to monitor and evaluate their marketing activities and strategies, ensuring alignment with overall goals.
Business Failure
Refers to the inability of a company to continue its operations due to financial performance or market competitiveness.
- Identify the reasons behind new business failures and strategies for prevention.
Verified Answer
WY
Wasanan YoowongMay 28, 2024
Final Answer :
A
Explanation :
Lack of marketing control is not typically listed as a primary reason for new business failure. Main reasons often include lack of experience, lack of strategy and strategic leadership, lack of expertise, and lack of commitment, among others. Effective marketing is crucial, but control over marketing is not usually cited as a standalone reason for failure.
Learning Objectives
- Identify the reasons behind new business failures and strategies for prevention.